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On top of the $2 trillion in tax revenues the government now collects, agencies issue more than 4,000 yearly regulations.  Costing some $800 billion annually, regulations exceed pretax corporate profits and Canada’s GDP.

If Washington can’t raise taxes to pay for its ends, it regulates.  Indeed, according to Americans for Tax Reform’s new Cost of Government Day report, we all worked until July 7—more than half the year—to pay the costs of taxes and regulations.

This is one day earlier than last year, and good news of sorts in that respect—but what of the future?  Is it a promising trend, as ATR hopes?